Tasco buys 50% stake Sabah cold chain logistics firm thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
KUALA LUMPUR (April 2): MIDF Research has maintained its “buy” rating on Tasco Bhd at RM1.10 with a higher target price of RM1.31 (from RM1.14) after Tasco entered a memorandum of understanding with MASkargo to collaborate for end-to-end logistics delivery services of Covid-19 vaccines all over Malaysia.
In a note today, the research house said Tasco’s Cold Supply Chain Logistics CSCL is currently the largest cold chain provider in Malaysia with an estimated 35% market share of the segment with key customers consists of FMCG retailers, F&B players and pharmaceutical groups.
MIDF said this represents around 50,000-52,000 pallet capacity.
“Its biggest cold storage warehouse is in Shah Alam with pallets capacity of 26,000 with built-up area of 330,000 sq ft.
The stock with positive momentum was:
MK Land Holdings Bhd up 5.5 sen at 27.5 sen
Stocks with negative momentum were:
Asian Pac Holdings Bhd up two sen at 20 sen
Berjaya Corp Bhd down 2.5 sen at 43 sen
Berjaya Land Bhd up one sen at 41.5 sen
Heng Huat Resources Group Bhd up seven sen at 69.5 sen
Jasa Kita Bhd up one sen at 12.5 sen
JKG Land Bhd up three sen at 13.5 sen
MCT Bhd up five sen at 34.5 sen
SHL Consolidated Bhd up eight sen at RM2.09
Silver Ridge Holdings Bhd up one sen at 90 sen
Tasco Bhd up six sen at RM1.11
has entered into a memorandum of understanding (MoU) with MAB Kargo SdnBhd(MASkargo) for logistics delivery services of Covid-19 vaccines.
In a filing with Bursa Malaysia Tuesday, Tasco said the MoU was to collaborate and provide seamless end-to-end logistics delivery services of Covid-19 vaccines from point of manufacture to the point of use in Malaysia.
“The MoU serves as an opportunity for the company to achieve the shared objective of an enhanced and seamless logistics delivery services for the customers involved in production of Covid-19 vaccines,” Tasco said, adding that MoU is for a period of 12 months.
In a separate statement, MASKargo chief executive officer Ibrahim Mohamed Salleh said the close relationship between the two companies had been going on for more than 20 years.
KUALA LUMPUR (March 4): The FBM KLCI closed down 7.19 points or 0.45% today tracking the negative performance of Asian equities after an overnight surge in bond yields again dragged shares on Wall Street.
At 5pm, the benchmark index closed at 1,581.26 points. Today, the index had mostly traded in negative territory, ranging between 1,577.39 and 1,590.46 compared with yesterday’s closing of 1,588.45.
Malacca Securities Sdn Bhd senior analyst Kenneth Leong told theedgemarkets.com the weakness in the local bourse performance today was in line with regional markets after Wall Street dropped yesterday due to rising Treasury yield.
The rising yield has sparked investors concerns that this may prompt central banks to raise ultra-low interest rates, which is bad for the equity market.